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Side-by-side financial comparison of MSCI Inc. (MSCI) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $625.1M, roughly 1.3× WATTS WATER TECHNOLOGIES INC). MSCI Inc. runs the higher net margin — 34.6% vs 13.4%, a 21.2% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 10.6%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $140.3M). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 4.6%).
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
MSCI vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $625.1M |
| Net Profit | $284.7M | $83.7M |
| Gross Margin | — | 49.5% |
| Operating Margin | 56.4% | 18.2% |
| Net Margin | 34.6% | 13.4% |
| Revenue YoY | 10.6% | 15.7% |
| Net Profit YoY | -6.8% | 24.0% |
| EPS (diluted) | $3.81 | $2.50 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $822.5M | $625.1M | ||
| Q3 25 | $793.4M | $611.7M | ||
| Q2 25 | $772.7M | $643.7M | ||
| Q1 25 | $745.8M | $558.0M | ||
| Q4 24 | $743.5M | $540.4M | ||
| Q3 24 | $724.7M | $543.6M | ||
| Q2 24 | $707.9M | $597.3M | ||
| Q1 24 | $680.0M | $570.9M |
| Q4 25 | $284.7M | $83.7M | ||
| Q3 25 | $325.4M | $82.2M | ||
| Q2 25 | $303.6M | $100.9M | ||
| Q1 25 | $288.6M | $74.0M | ||
| Q4 24 | $305.5M | $67.5M | ||
| Q3 24 | $280.9M | $69.1M | ||
| Q2 24 | $266.8M | $82.0M | ||
| Q1 24 | $256.0M | $72.6M |
| Q4 25 | — | 49.5% | ||
| Q3 25 | — | 48.8% | ||
| Q2 25 | — | 50.6% | ||
| Q1 25 | — | 48.8% | ||
| Q4 24 | — | 46.7% | ||
| Q3 24 | — | 47.3% | ||
| Q2 24 | — | 47.7% | ||
| Q1 24 | — | 46.9% |
| Q4 25 | 56.4% | 18.2% | ||
| Q3 25 | 56.4% | 18.2% | ||
| Q2 25 | 55.0% | 21.0% | ||
| Q1 25 | 50.6% | 15.7% | ||
| Q4 24 | 54.5% | 16.5% | ||
| Q3 24 | 55.4% | 17.1% | ||
| Q2 24 | 54.0% | 18.7% | ||
| Q1 24 | 49.9% | 16.9% |
| Q4 25 | 34.6% | 13.4% | ||
| Q3 25 | 41.0% | 13.4% | ||
| Q2 25 | 39.3% | 15.7% | ||
| Q1 25 | 38.7% | 13.3% | ||
| Q4 24 | 41.1% | 12.5% | ||
| Q3 24 | 38.8% | 12.7% | ||
| Q2 24 | 37.7% | 13.7% | ||
| Q1 24 | 37.6% | 12.7% |
| Q4 25 | $3.81 | $2.50 | ||
| Q3 25 | $4.25 | $2.45 | ||
| Q2 25 | $3.92 | $3.01 | ||
| Q1 25 | $3.71 | $2.21 | ||
| Q4 24 | $3.89 | $2.02 | ||
| Q3 24 | $3.57 | $2.06 | ||
| Q2 24 | $3.37 | $2.44 | ||
| Q1 24 | $3.22 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $515.3M | $405.5M |
| Total DebtLower is stronger | $6.2B | — |
| Stockholders' EquityBook value | $-2.7B | $2.0B |
| Total Assets | $5.7B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $515.3M | $405.5M | ||
| Q3 25 | $400.1M | $457.7M | ||
| Q2 25 | $347.3M | $369.3M | ||
| Q1 25 | $360.7M | $336.8M | ||
| Q4 24 | $409.4M | $386.9M | ||
| Q3 24 | $501.0M | $303.9M | ||
| Q2 24 | $451.4M | $279.4M | ||
| Q1 24 | $519.3M | $237.1M |
| Q4 25 | $6.2B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $-2.7B | $2.0B | ||
| Q3 25 | $-1.9B | $2.0B | ||
| Q2 25 | $-886.2M | $1.9B | ||
| Q1 25 | $-958.6M | $1.8B | ||
| Q4 24 | $-940.0M | $1.7B | ||
| Q3 24 | $-751.0M | $1.7B | ||
| Q2 24 | $-734.5M | $1.6B | ||
| Q1 24 | $-650.5M | $1.6B |
| Q4 25 | $5.7B | $2.9B | ||
| Q3 25 | $5.4B | $2.7B | ||
| Q2 25 | $5.4B | $2.6B | ||
| Q1 25 | $5.3B | $2.5B | ||
| Q4 24 | $5.4B | $2.4B | ||
| Q3 24 | $5.4B | $2.4B | ||
| Q2 24 | $5.5B | $2.4B | ||
| Q1 24 | $5.5B | $2.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $501.1M | $154.7M |
| Free Cash FlowOCF − Capex | $488.7M | $140.3M |
| FCF MarginFCF / Revenue | 59.4% | 22.4% |
| Capex IntensityCapex / Revenue | 1.5% | 2.3% |
| Cash ConversionOCF / Net Profit | 1.76× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $501.1M | $154.7M | ||
| Q3 25 | $449.4M | $122.4M | ||
| Q2 25 | $336.1M | $69.7M | ||
| Q1 25 | $301.7M | $55.2M | ||
| Q4 24 | $430.6M | $139.5M | ||
| Q3 24 | $421.6M | $90.7M | ||
| Q2 24 | $349.2M | $85.3M | ||
| Q1 24 | $300.1M | $45.6M |
| Q4 25 | $488.7M | $140.3M | ||
| Q3 25 | $445.5M | $110.9M | ||
| Q2 25 | $324.7M | $59.5M | ||
| Q1 25 | $290.2M | $45.6M | ||
| Q4 24 | $416.4M | $127.5M | ||
| Q3 24 | $415.0M | $84.3M | ||
| Q2 24 | $340.6M | $78.5M | ||
| Q1 24 | $295.9M | $35.5M |
| Q4 25 | 59.4% | 22.4% | ||
| Q3 25 | 56.2% | 18.1% | ||
| Q2 25 | 42.0% | 9.2% | ||
| Q1 25 | 38.9% | 8.2% | ||
| Q4 24 | 56.0% | 23.6% | ||
| Q3 24 | 57.3% | 15.5% | ||
| Q2 24 | 48.1% | 13.1% | ||
| Q1 24 | 43.5% | 6.2% |
| Q4 25 | 1.5% | 2.3% | ||
| Q3 25 | 0.5% | 1.9% | ||
| Q2 25 | 1.5% | 1.6% | ||
| Q1 25 | 1.5% | 1.7% | ||
| Q4 24 | 1.9% | 2.2% | ||
| Q3 24 | 0.9% | 1.2% | ||
| Q2 24 | 1.2% | 1.1% | ||
| Q1 24 | 0.6% | 1.8% |
| Q4 25 | 1.76× | 1.85× | ||
| Q3 25 | 1.38× | 1.49× | ||
| Q2 25 | 1.11× | 0.69× | ||
| Q1 25 | 1.05× | 0.75× | ||
| Q4 24 | 1.41× | 2.07× | ||
| Q3 24 | 1.50× | 1.31× | ||
| Q2 24 | 1.31× | 1.04× | ||
| Q1 24 | 1.17× | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
WTS
Segment breakdown not available.
